Retirement in foreign owned US plants??

[Henry S.]

With all the talk about retirement costs for the U.S. automakers, just wondering what type of retirement plan the foreign automakers here in the states offer their employees? I realize being relatively new plants they may not have employees eligible for retirement for a few years but when they do will they have a pension and health coverage or do they just get a watch and a handshake.

[Anthony M.]

Re: Retirement in foreign owned US plants??

Handshake only.

[John H.]

Re: Retirement in foreign owned US plants??

I don't know the details, but Honda of America Manufacturing has a pension plan; Honda-Marysville had their first retiree last year.

[Ted S.]

Re: Retirement in foreign owned US plants??

It seems like the "pension plan" for most companies US based or otherwise is a matching 401K program. Health care benefits - you're on your own

[Stuart F.]

Re: Retirement in foreign owned US plants??

Today's GM retiree newsletter had some interesting stats about the relationship of tax payer dollars loaned to GM and Chrysler, on a per/ employee job vs. tax payer dollars doled out by state and local governments to foreign car manufacturers as incentives per/ employee job. It was an odd criteria, but made some good points that the money loaned to GM and Chrysler will be paid back, while that given out as incentives can not quantively be assessed and recovered. They were apparantly quoting some other media sources. The numbers they came up with were something like $16,000 vs. $255,000. I have not read the full story, but on it's surface it made some sense, perhaps a stretch to others.

I would try to copy and post it or send it via E-Mail to anyone if they were interested.

Stu Fox

[Henry S.]

Re: Retirement in foreign owned US plants??

Today's GM retiree newsletter had some interesting stats about the relationship of tax payer dollars loaned to GM and Chrysler, on a per/ employee job vs. tax payer dollars doled out by state and local governments to foreign car manufacturers as incentives per/ employee job. It was an odd criteria, but made some good points that the money loaned to GM and Chrysler will be paid back, while that given out as incentives can not quantively be assessed and recovered. They were apparantly quoting some other media sources. The numbers they came up with were something like $16,000 vs. $255,000. I have not read the full story, but on it's surface it made some sense, perhaps a stretch to others.

I would try to copy and post it or send it via E-Mail to anyone if they were interested.

Stu Fox

Hi Stu,
I'd be interested in seeing it. Either e-mail (shooter1951@shelbywb.coop) or copy and paste it whichever is easiest for you.
Thanks,
Shooter

[Clem Z.]